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Pham Khanh Linh seemed to be all set on a rewarding career, finding a job at global financial firm Goldman Sachs after graduating from the Cambridge University. But she quit the job in less than a year. Instead of pursuing a corporate employee path, the 25-year-old decided to return to Vietnam and start her own business, which she did last year. She said her ambition is to make a difference in her country. "I didn’t feel like I could make a difference with a corporate job. I wanted to influence more people," she told VnExpress International. Linh is the founder and CEO of Logivan, a logistics service which optimizes trucks’ routes and reduces their empty load return rates. She came up with the idea after observing that about 60-70 percent of truck drivers in Vietnam go back to their base with empty trunks, because they cannot be connected with potential customers. "I saw a big problem for the logistics sector in Vietnam, but also an opportunity to make an impact." Linh is … [Read more...] about Young Vietnamese think big, content with starting small

LOGIVAN is an application for trucks and works like Uber/Grab, offering a platform to connect between goods and truck owners. Thanks to technology, this app can unite the current fragmented market in Vietnam, helping to optimize the logistics industry via making use of available rented trucks, reducing transport cost for goods owners while increasing revenues for truck owners and alleviating environmental pollution. Ami is both the software and hardware to improve traditional trading activities thanks to its ability to manage residents, university campus, and possible supply chains in order to build a digital ecosystem for a smart neighborhood. CyHome is a friendly management system for apartment properties. Introduced in November 2017 in Vietnam, CyHome is now run in 36 major apartment buildings in Vietnam to serve more than 12,000 families. In the CyHome ecosystem, residents are guaranteed a standardized and high-quality management system to experience services and use goods with … [Read more...] about 3 Vietnamese start-ups chosen for ‘Runway to the world’ in Singapore

US giant WeWork is making an entry into the Vietnamese co-working market, Photo: Le Toan The world’s largest co-working space operator WeWork, valued at $20 billion, will likely make competition in the local market grow fiercer if it decides to launch its own co-working spaces in Vietnam. According to the latest report by real estate services provider Savills Vietnam, 43 co-working spaces have been opened in Hanoi and 15 in Ho Chi Minh City since early 2014. The growing market includes local names like Toong, Up, and Hatch as well as foreign operators like Regus (UK), Hive (Hong Kong), CEO Suite (South Korea), and Kloud (Singapore). To serve millennial professionals, most co-working spaces are concentrated in the city centre, namely the four inner districts of Hanoi and the central districts 1, 2, 3, and 4 plus Binh Thanh and Phu Nhuan districts in Ho Chi Minh City, all of which boast a high density of firms, commercial space, and entertainment areas. Will WeWork devour the … [Read more...] about Co working draws foreign operators

Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6

According to the Viet Nam Logistics Association, logistical costs are equal to around 20-25 per cent of Viet Nam’s GDP, of which transport costs account for 60 per cent of this, the highest level in the ASEAN region. Meanwhile, the costs in developed countries range between 9 and 14 per cent. This presents a challenge to the country’s economic growth. To tackle the problem as well as to take advantage of the opportunity to make profit, many market players, both foreign giants and local start-ups, are eagerly introducing new business models inspired by the sharing economy and new technologies, ushering in an exciting new age in transportation: the era of smart mobility. Nguyen Xuan Truong, CEO of Ahamove, a motorbike-based start-up using technology for delivery services, and Phan Ba Manh, CEO of Anvui, a start-up that provides management solutions for inter-provincial bus services companies, spoke to Viet Nam News reporter Nguyen Linh Anh about the opportunities of local … [Read more...] about Multiple opportunities for VN start-ups in smart mobility

Former Uber drivers in Vietnam are migrating towards domestic competitors instead of joining ride-hailing firm Grab, which acquired Uber’s Southeast Asian operations last month. Many have opted for firms that offer similar services to Grab, such as Mai Linh and Vato, saying they want to support local businesses where they hope to receive better treatment. Ho Huy, president of Mai Linh, said Uber drivers have been signing up to work for his company since last month, with more coming every day. “At first, there were only a couple of drivers who came to sign up with us. Now we get hundreds of them on our best days,” he told VnExpress. Tran Thanh Nam, CEO of ride-hailing app Vato, said about 5,000 drivers had signed up to work for his firm in just two weeks, ever since word got out at the end of last month that Grab was acquiring Uber, media reports said. Vo Van Phu, a former Uber driver in Ho Chi Minh City, said he felt “sad” about Uber leaving Vietnam as he … [Read more...] about Vietnam’s ex-Uber drivers shun Grab in favor of local competitors

Ride-hailing firm Uber Technologies Inc recently agreed to sell its Southeast Asian business to bigger regional rival Grab, marking its second pull-out from an Asian market.— Photo tuoitre.vn Ride-hailing firm Uber Technologies Inc recently agreed to sell its Southeast Asian business to bigger regional rival Grab, marking its second pull-out from an Asian market. Uber will take a 27.5 percent stake in Singapore-based Grab and Uber CEO Dara Khosrowshahi will join Grab’s board. Grab was last valued at around US$6 billion. Grab provides transportation, food delivery, mobile payments and financial services and operates in 195 cities across Southeast Asia. The company claimed to have a 95 percent market share of the ride-hailing market last year when it announced plans to raise more than $2.5 billion from SoftBank and other investors. Uber’s withdrawal from the Asian market is expected to redraw the ride-hailing market including in Viet Nam. “What are the gains and … [Read more...] about Map of technology-driven taxi market likely to be redrawn as Uber pulls out

Here are today’s leading news stories: Politics -- The Ministry of Public Security held a conference in Hanoi on Monday, which was attended by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, to review performance of the sector in 2017 and outline tasks for 2018. Society -- The Ministry of Labor, War Invalids and Social Affairs has proposed that the retirement age be raised to 62 for men and 60 to women, which is expected to take effect in January 2021. The current retirement age for men is 60 and for women is 55. -- Starting on Tuesday, the toll station of a BOT (build-operate-transfer) project on the section of National Highway 1 in the south-central province of Binh Thuan will reduce it rates by 40 to 50 percent for local residents and businesses, following repeated opposition from commuters. -- The Ho Chi Minh City Department of Transport has imposed fines worth a total of VND189 million (US$8,323) upon 22 contractors for careless implementation … [Read more...] about ​Breakfast @ Tuoi Tre News – January 16

Hanoi on Wednesday started putting up traffic signs banning contract cars with under 9 seats from operating along roads off-limits to traditional taxis. The new signs on Giang Vo, Cat Linh, Phu Doan and Truong Chinh streets are being installed next to or under existing "no taxi" signs as the transport ministry moves to legalize ride-hailing apps Uber and Grab. Many Uber and Grab drivers frequenting these streets were surprised and worried by the new signs. Minh Duc, who has been working as an Uber driver for two years, said the ban might lower drivers' incomes. "Uber and Grab both have predetermined fares calculated using the journey's shortest route. If this route includes roads that we're banned from, I'll have to take longer routes and lose money," Duc said. "If a customer chooses a pick-up point on one of these roads, we will be unable to get there so we'll have to cancel the trip. We will lose customers and have our stars and bonus points deducted." Meanwhile, many drivers … [Read more...] about Hanoi bans Uber, Grab cars from ‘no taxi’ roads

Hanoi on Wednesday started putting up traffic signs banning contract cars under 9 seats from operating along roads off-limits to traditional taxis. The new signs on Giang Vo, Cat Linh, Phu Doan and Truong Chinh streets are installed next to or under existing "no taxis" signs as the transport ministry moves to legalize ride-hailing apps Uber and Grab. A sign banning contract cars under 9 seats on Phu Doan Street. Photo by VnExpress/Anh Tu. Many Uber and Grab drivers frequenting these streets were surprised and worried by the new signs. Minh Duc, who has been working as an Uber driver for two years, said the ban might lower drivers' incomes. "Uber, Grab both have predetermined fares calculated using the journey's shortest route. If this route includes roads that we're banned from, I'll have to take longer routes and lose more money," Duc said. "If a customer chooses the pick-up point on one of these roads, we would be unable to go there so we'll have to cancel the trip. We … [Read more...] about Hanoi bans Uber, Grab cars from ‘no taxis’ roads